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  • China needs to get going on TLAC bonds

    China needs to get going on TLAC bonds

    Crédit Agricole bagged a total loss-absorbing capacity eligible senior preferred Panda bond in China last week — the first of its kind onshore. But the confusion it created shines a light on a market that is still in dire need of education around these new structures. With Chinese banks set to come under pressure soon to issue their own TLAC-eligible bonds onshore, rapid change is needed before time runs out.

  • LGFV bonds bounce back after default fear

    LGFV bonds bounce back after default fear

    Fear of an onshore default by a Chinese local government financing vehicle (LGFV) led to a sell-off in the dollar bond market on Monday. But after news emerged of a government rescue of the company, both the primary and secondary markets quickly recovered.

  • Chinese banks boost green certified bond volumes

    Chinese banks boost green certified bond volumes

    Certified green bond issuance globally has reached new highs this year, boosted by transactions from some of China’s largest banks. But deal flow from the Mainland still remains focused on the onshore market, with just a small group of borrowers venturing out to international investors.

  • GAC-Sofinco drives home tightly priced auto ABS

    GAC-Sofinco drives home tightly priced auto ABS

    GAC-Sofinco Auto Finance, a joint venture between Crédit Agricole Consumer Finance and Guangzhou Automobile Corp, wrapped up a Rmb6bn ($851m) four tranche internationally rated auto ABS deal on Thursday. The trade was priced tightly thanks to the issuer’s good relationship with banks.

  • Seazen, China South City tap year-end liquidity

    Seazen, China South City tap year-end liquidity

    Chinese real estate firms Seazen Holdings Co and China South City Holdings both came to the dollar bond market this week, making use of a narrowing window for issuance before the year ends.

  • Peking Founder’s bonds tumble as cash crunch leads to onshore default

    Peking Founder’s bonds tumble as cash crunch leads to onshore default

    Investors have dumped Peking University Founder Group Co’s $2.95bn of dollar bonds after a default by the company in onshore China rattled markets. But despite numerous default situations from the country making headlines this year, market participants are not hitting the panic button just yet, writes Addison Gong.

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